President Donald Trump signed a major Dodd-Frank rollback into law Thursday, hoping to bring regulatory relief to community banks across the U.S. The president explained Dodd-Frank’s costly regulations gave large banks a negative advantage at the cost of small banks throughout the country. Click the headline to read more.

Items Tagged with 'Flagstar Bank'

ARTICLES

The Association of Independent Mortgage Experts is in growth mode, aiming for 20% market share of the mortgage market by 2020. Recent sponsorship from United Wholesale Mortgage, Caliber Home Loans, Finance of America Mortgage, and others have enabled AIME to offer free membership to partners of its sponsors. Included in membership are a set of tools and resources loan originators can use to increase productivity.

After finalizing its acquisition of Santander Bank's mortgage warehouse portfolio just over a week ago, Flagstar Bank announced Monday it has finalized the purchase of eight branches of Desert Community Bank in San Bernardino County, Calif.

Flagstar Bank announced Tuesday it has signed a definitive agreement to purchase a mortgage warehouse loan portfolio from Santander Bank. As part of the transaction, Flagstar will bring on Santander's existing relationship managers, adding the employees to its warehouse business, the company explained in a release.

When Capital One suddenly announced last year that it planned to exit its mortgage and home equity originations business, not much was known about what would happen to the more than 900 employees that would be laid off as a result of Capital One’s decision. Well, it turns out that a small percentage of those employees will be moving over to Flagstar Bank.

Earlier this year, the company acquired Stearns Lending’s delegated correspondent lending business and Opes Advisors, a full-service mortgage bank and financial advisory firm. The Opes Advisors acquisition positioned Flagstar to grow its lending business in the Western part of the U.S., and now, the company is making another move to grow its business on the west coast.

Flagstar Bank is targeting low- to moderate-income borrowers with a mortgage offer that’s seemingly too good to be true. The program, which Flagstar introduced earlier this week, requires no down payment from the borrower and also provides the borrower with closing cost assistance. Here are the details.

Flagstar Bank unveiled a new charitable arm, Flagstar Foundation. "Flagstar has a 30-year tradition of investing in its communities," said Beth Correa, president of the foundation. "We now want to formalize that investment through a foundation that will support our corporate goals as well as our employees' involvement in the nonprofit world."

Flagstar Bank has a new head of its mortgage business. Flagstar announced earlier this week that it added Kristy Fercho, who was previously a senior vice president and customer delivery executive at Fannie Mae, to serve as the company’s president of mortgage.

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He wears t-shirts to his televised interviews; not very CEO. He played sports at a high level, but rarely brings it up and when he does he talks about it as a mere chapter in his life. Honestly, who plays a Super Bowl and doesn’t describe it as the defining moment in their personal journey? Casey Crawford, that’s who. His family is a big part of his life of course, but he talks about his even larger family — his coworkers — in terms that are just as glowing.

Feature

One of the things that has bedeviled mortgage financing post-crisis has been the absence of the private label mortgage backed securities market. During the peak years, private label MBS issuance topped $1 trillion. In 2017, only $70 billion of private label RMBS were issued, although that is a big increase from 2016.

Commentary

Digital technology has disrupted businesses and industries from publishing to public transportation, so can the mortgage industry be far behind? Actually, anyone who’s applied for a mortgage recently will have recognized that things are already changing fast.